What we do
Our work in this practice group is structured around the records, deadlines, and decisions involved:
- Drafted Board’s Report aligned with applicable statutory requirements.
- Accurate incorporation of financial and operational information.
- Comprehensive coverage of required corporate disclosures.
- Consistency between the Board’s Report and audited financial statements.
- Assistance with CSR, related-party, risk management, and governance disclosures.
- Reduced risk of incomplete or inconsistent statutory disclosures.
- Structured documentation suitable for annual filing and shareholder review.
How the engagement works
The Board’s Report is governed primarily by Section 134 of the Companies Act, 2013, applicable rules, and other provisions requiring specific disclosures. The report is required to contain prescribed information relating to the state of the company’s affairs, financial performance, material changes, directors, annual return, loans and investments, related-party transactions, risk management, internal financial controls, CSR where applicable, and other matters. Additional disclosures may apply depending on the company’s size, type, listing status, and other circumstances.
Scenario 1: A company needs to prepare its annual Board’s Report along with its audited financial statements.
Scenario 2: Management wants professional assistance ensuring all applicable statutory disclosures are included in the Board’s Report.
Scenario 3: A company has CSR activities, related-party transactions, loans, investments, or other matters requiring specific disclosures.
Scenario 4: A company is preparing for its AGM and needs its Board’s Report finalized as part of the annual financial reporting package.
Scenario 5: A company wants to ensure that its Board’s Report is consistent with its accounting records, audit report, statutory registers, and other corporate records.
Board Report Requirement Review
We assess the company’s type, size, financial position, activities, and applicable statutory requirements to identify the disclosures required in the Board’s Report.
Financial & Operational Information
We incorporate relevant financial performance, business activities, state of affairs, changes in operations, highlights, and other information based on the audited financial statements and company records.
Statutory Disclosure Preparation
We prepare applicable disclosures relating to directors, annual return, loans, investments, related-party transactions, risk management, internal controls, CSR, dividends, reserves, and other statutory matters.
Corporate Governance & Compliance Review
We review the Board’s Report for consistency with Board minutes, statutory registers, financial statements, audit observations, corporate filings, and other relevant records.
Drafting & Management Review
We prepare the complete Board’s Report in a structured format and coordinate with management for review, clarification, and incorporation of relevant company-specific information.
Finalization & Annual Filing Support
We assist with finalization of the Board’s Report, signing requirements, inclusion in the annual report, and related statutory documentation and filing support where applicable.
Step-by-step process
Step 1: Company & Compliance Review
We understand the company’s legal structure, financial performance, business activities, directors, statutory records, and other factors affecting the required Board’s Report disclosures.
Step 2: Information & Document Collection
We collect audited financial statements, audit report, Board minutes, statutory records, CSR information, related-party details, director information, and other relevant records.
Step 3: Disclosure Mapping
We identify the disclosures applicable to the company and map the required information to the relevant sections of the Board’s Report.
Step 4: Drafting & Review
We prepare the Board’s Report and coordinate with management to verify financial, operational, statutory, and corporate information.
Step 5: Finalization & Annual Compliance
We finalize the report, coordinate applicable signing and annual report requirements, and provide support for related statutory documentation and filings.
Key deliverables & outputs
General questions
01What is a Board’s Report?
A Board’s Report is a statutory report prepared by the Board of Directors and presented to the members of the company as part of the annual financial reporting and corporate compliance process.
02Is a Board’s Report mandatory for companies?
Companies are generally required to prepare a Board’s Report in accordance with Section 134 of the Companies Act, 2013, subject to applicable provisions, exemptions, and reporting requirements for the particular company.
03What information is included in a Board’s Report?
The report may include the state of the company’s affairs, financial performance, dividend recommendations, reserves, material changes, directors and KMP, annual return, loans and investments, related-party transactions, risk management, internal controls, CSR, and other prescribed disclosures.
04Who signs the Board’s Report?
The Board’s Report must be signed by the persons prescribed under the Companies Act, 2013. The applicable signing requirements depend on the company’s structure and circumstances.
05Does the Board’s Report include CSR information?
Where CSR provisions apply to the company, the Board’s Report generally contains the CSR-related disclosures prescribed under the Companies Act and applicable CSR Rules.
06Does the Board’s Report include related-party transactions?
Where applicable, the Board’s Report includes prescribed disclosures relating to related-party transactions and the company’s transactions with related parties in the required format.
07Should the Board’s Report match the audited financial statements?
Yes. Financial and other information in the Board’s Report should be consistent with the company’s audited financial statements and underlying statutory records. Differences should be identified and appropriately explained where required.
08Can you prepare the complete Board’s Report for an AGM?
Yes. We can assist with disclosure review, information collection, drafting, management review, finalization, and integration of the Board’s Report into the company’s annual reporting and AGM documentation.